You are here

Wealthy Chinese move money out of country as economy flounders

Monday, February 15, 2016 - 05:50

The capital flight is putting significant pressure on the yuan even as the government is trying to prevent a free fall in the currency by stepping into the markets and tapping its huge cash hoard to shore up the yuan.

PHOTO: BLOOMBERG

Hong Kong

AS the Chinese economy stumbles, wealthy families are increasingly trying to move large sums of money out of the country, worried that the value of the currency will fall and their savings will be worth less.